LGH faces profitability problems
“This has been going on for five years, but the balance sheet really began to deteriorate in 2005,” CEO Tom Stone said.
Lincoln General stands to lose between $6 million and $7 million in net income in fiscal year 2005, Stone said.
Labor and technology represent the two biggest costs to the hospital, and Stone said measures have already been taken to reduce one of those areas. He went on to say the hospital had cut the equivalent of 100 full-time time positions.